Konga Defies Recession, Turns Profitable

At a time when investor fatigue was beginning to set in and the company was had not raised any funding for over two years the Konga, one of Nigeria’s largest eCommerce platforms turned a profit even as the country struggled to find a way out of the recession.

This will be a huge relief for Konga CEO whose actual job description reads – to lead Konga into profitability lest Kinnevik pulls the plug finally – kinnevik AB is the Swedish investment company that powers Rocket Internet which invests in Konga.

The CEO Shola Adekoya who took over from Sim Shagaya has done a fine job leading the company into profitability after break even in September last year.